Dow soars 190 points as GM of Coca-Cola on Wall Street

The Dow Jones Industrial Average rose 190 points as U.S. stocks looked set to inch higher after strong earnings reports from Coca-Cola and GM.

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Despite a series of positive earnings reports from GM and Coca-Cola, stock prices were generally sluggish.
The Dow Jones rose 190 points, while the S&P 500 and Nasdaq Composite were little changed.
Wall Street remains bullish as all eyes are on tariffs, interest rates and earnings season.

U.S. stocks were mostly flat, but the Dow Jones Industrial Average rose 190 points, showing a positive outlook. Meanwhile, both the S&P 500 and Nasdaq Composite remained close to flat, with the benchmark S&P 500 posting a slight gain of 0.02%, while the Nasdaq was down 0.1%.

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US stocks slump, GM and Coca-Cola soar

While the overall performance of U.S. stocks was weak, stock prices were generally bullish.

Much of the upbeat mood has to do with boosting profits, with General Motors, Coca-Cola and 3M rising after reporting better-than-expected earnings. Following the earnings report, GM's stock price soared more than 14%, and COKE rose slightly.

Zions Bancorp, a regional financial company in the United States, also showed resilience, with its stock price rising 3% in the early going after a steep decline due to a $50 million investment writedown.

Investors are also likely to switch into full bullish mode, with expected earnings for industry giants like Tesla and Netflix expected to further outpace the strong pace analysts are pointing to heading into the third-quarter earnings season.

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Notably, investors are hoping for a bumper earnings season, with big tech companies' revenues surging 14.9% from a year ago. Earnings for the other 493 companies in the S&P 500 are expected to rise 6.7%, according to FactSet.

Mag7's rise could trigger a bullish trend in overall stock prices.

This, coupled with the potential for trade wars to subside, should support risk assets. The Federal Reserve's decision on interest rates in the coming days could also be a big tailwind for the market, despite the ongoing US government shutdown.